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Below View on Nifty 18 July 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

The bulls are currently dominating the market, and the index has reached all-time high levels, indicating a strong upward momentum in the banking sector.The overall undertone of the index remains bullish, suggesting that the trend is likely to continue. Traders and investors may consider adopting a buy-on-dip approach, looking for opportunities to enter the market during price pullbacks.A key support level is observed at 45000, which may act as a significant level of support for the index. Traders may use this level as a reference for setting their stop-loss levels or determining potential buying opportunities.The next major hurdle for the index is placed at 46000. If the index manages to surpass this level, it may indicate further upward momentum towards the target level of 46400.

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